Stock Transfer Form For Nil Consideration

State:
Multi-State
Control #:
US-02828BG
Format:
Word; 
Rich Text
Instant download

Description

The Stock Transfer Form for Nil Consideration is a legal document used to assign ownership of stock from one party to another without any payment involved. This form typically requires the names and addresses of both the assignor and the assignee, as well as details of the stock being transferred, including the number of shares and the name of the issuing corporation. It allows the assignor to appoint an attorney-in-fact to complete the transfer on behalf of the assignor, ensuring that the process is legally binding. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants when facilitating non-commercial transfers, such as gifting stock to family members or transferring shares within a partnership. When filling out the form, users should ensure all fields are completed accurately and signatures are provided where necessary. Legal professionals may use this form to streamline the process of stock transfers without consideration, making it an essential tool in their practice.

How to fill out Assignment And Transfer Of Stock?

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FAQ

Don't use correction fluid or stick labels on the form. 1 Consideration money. ... 2 Full name of Undertaking. ... 3 Full description of Security. ... 4 Number or amount of Shares, Stock or other security. ... 5 Name(s) and address of registered holder(s) ... 6 Signature(s) ... 7 Name(s) and address of person(s) receiving the shares.

If the transfer is for nil consideration, ?nil? should be written in the consideration box. There is no need to complete a certificate or send the form to HM Revenue & Customs for stamping.

The consideration is the amount paid between the Buyer and Seller to settle the transfer of securities.

In form SH-4, Transferee's name(s) should be filled same as mentioned in their PAN CARD. There should not be any difference of any letter or word due to whatsoever reason. 4. In case any of Transferor(s) is deceased then write DECEASED in place of his/her signature and attach notarized or original death certificate.

If no consideration is being given for the shares, or the transferee is claiming Stamp Duty relief, there is no need to complete either certificate. However, if relief is being claimed, the stock transfer form and details of the relief must be sent to HMRC for approval.

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Stock Transfer Form For Nil Consideration